Japanese staffing firm, Recruit Holdings, on Thursday announced an investment in Blockstack, a US-based company which a blockchain protocol that aims to give users control of their data and identity.
The $50 billion Japanese tech giant is purchasing Blockstack’s STACK tokens as a part of the deal. In July, the Securities and Exchange Commission (SEC) approved
Blockstack‘s $28 million token offering under Regulation A+. In the
announcement, Blockstack noted that Japan is one of the few countries that has a well-established regulatory framework for digital assets.
Like other blockchains, people can build apps on top of the Stacks blockchain. Many of Blockstack’s apps are focused on privacy. Perhaps as a sign of the competition to attract developers, Blockstack says it pays out $200,000 monthly to the best apps. A quality ranking by independent app reviewers determines how the $200,000 is apportioned. One app for decentralized personal data has received almost $139,000 to date.
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